Physician Salary Data

Physicians are usually offered a set amount of paid time off (PTO), unless the proposed scheduling is somehow irregular. For example, hospitalists often work a one week on, one week off pattern. While 3 to 4 weeks of PTO is typical for many physicians, the amount can be negotiated.

Physicians should also understand all the terms surrounding how their PTO is handled and negotiate accordingly. Does PTO roll over at the end of the year? Does the employer offer to buyout PTO at any point? The answers to these questions, the physician's individual priorities, and other factors will determine whether the offered PTO is appropriate for their needs.

A physician's medical education will absolutely continue through clinical practice, but their employer should cover some CME costs outside of the workplace. Many employers will offer a few weeks of additional PTO and cover professional dues and licensure fees in full. Physicians may be offered some additional funds to cover expenses for conferences and similar events.

Most employers will cover the cost of malpractice insurance, but physicians should pay attention to whether they are offered claims-made or occurrence-based coverage. The latter is preferred, but if claims-made is offered, tail coverage will be necessary. Physicians can purchase tail coverage on their own, but they can also negotiate for their employer to cover the cost.

Restrictive covenants like non-competes can effectively trap a physician in their job, unless they are willing to relocate. Non-competes dictate a radius around an employer's location(s) and a timeframe during which the physician is prohibited from working for a competitor within that radius after leaving the employer. If the radius covers all nearby employers, a physician could end up with nowhere to go, unless they completely change cities or regions. It is always recommended to negotiate a non-compete out of a contract, or at least have its effectiveness limited.

Many physicians, especially those early in their careers, have large amounts of student debt. While the majority of employers will not offer a student loan repayment plan up front, they may be willing to create one if requested. Loan repayment offers can be substantial, so a physician might consider negotiating for one to add value to their contract.

Scheduling, call coverage, and other working hours are extremely important to long-term job satisfaction. Proper scheduling helps physicians control their time, set boundaries, and prevent burnout. In a contract, these terms should be specific, avoiding any broad language that would allow an employer to edit the schedule or how call time is shared at a later date. Physicians should try to negotiate for a set schedule and call time that is shared equally.